– FX short term: US figures are expected to soften in Q2 and the Fed will keep QE on, which we have already seen affecting the USD negatively. The GBP can still recover broadly, and any strength in the JPY will be temporary.
– FX longer term: The USD is forecast to appreciate significantly versus the EUR in the longer run as the US economy is likely to grow more briskly than the Euro area.
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Nordea